2 new bids emerge for Dell buyout

Michael Liedtke / The Associated Press /

Published Mar 26, 2013 at 05:00AM

SAN FRANCISCO — The two new suitors pursuing Dell have a message for Wall Street: Don’t allow Michael Dell to hoard potential gains from the PC maker’s expansion into more profitable technology products and services.

Competing bidders Carl Icahn and the Blackstone Group LP are wooing Dell shareholders with an offer of a little more money today coupled with the possibility of even bigger returns if the struggling personal computer maker can pull off the turnaround envisioned by its CEO and founder, Michael Dell, and a group of investors led by Silver Lake Partners.

The long-awaited challenge to Michael Dell and Silver Lake began to unfold Monday with the announcement that Icahn, a billionaire investor with a long history of corporate confrontation, and Blackstone, a major buyout firm, had submitted separate alternatives in an attempt to scuttle a $24.4 billion sales agreement that has been in place since Feb. 5.

comments powered by Disqus